Sept 19 (Reuters) – Agricultural commodities trader Bunge Ltd ( BG.N ) agreed on Monday to sell its Russian oilseed processing business to Exoil Group’s controlling shareholder Karen Vanes.
The sale includes a sunflower processing plant in Voronezh.
Bunge and rivals Archer-Daniels-Midland Co ( ADM.N ) and Cargill Inc., Louis Dreyfus Co. ( LDC ) — part of the so-called ABCD Quartet of global grain traders — began ramping up their Russian operations in March. The invasion of the country of Ukraine. Read more
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Bunge did not disclose financial details of the deal Monday.
“We thank the team for continuing to provide essential food and feed in this challenging environment,” said Bunge CEO Greg Heckman.
The company has been expanding its Russian grain business in recent years, including last year’s sale of the Rostov grain export terminal.
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Reporting by Arunima Kumar in Bengaluru; Edited by Uttaresh.V
Our Standards: The Thomson Reuters Trust Principles.
